A recent survey by Intuit Credit Karma reveals that one-third of Britons experience financial anxiety that disrupts their sleep. The survey, conducted with 2,000 UK adults, highlights the connection between financial worries and sleep patterns, showing that 46% of participants suffer from poor sleep at least three times a week, averaging only 5.7 hours of rest each night.
Among those surveyed, 24% admitted to making unnecessary purchases when they are tired, with 15% more likely to buy food or takeaways. Additionally, 9% reported buying unnecessary clothing and accessories, while 6% admitted to purchasing unneeded technology or booking holidays as a way to boost their mood after a restless night.
The survey also found that 32% of respondents felt less motivated to seek better deals or discounts after experiencing a bad night’s sleep. When it comes to managing their finances during sleepless nights, 32% of individuals reported that financial anxiety kept them awake, with 21% checking their bank balances, 15% paying bills, and 12% tracking their expenses.
The findings indicate that financial stress can lead to impulsive spending, particularly during times of fatigue. Akansha Nath, general manager for international at Intuit Credit Karma, emphasized the importance of setting spending limits and automating bill payments. She advised against using shopping apps late at night, as these habits can contribute to financial anxiety and overspending. Nath suggested that creating boundaries around smartphone access to financial applications could help individuals manage their financial concerns more effectively, especially during times of stress and fatigue.
This survey sheds light on the broader issue of how financial anxiety affects sleep quality and spending behaviors, highlighting the need for strategies that can help individuals cope with financial stress and its impact on mental health.
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